DID Press: Japan government announced it will release part of its strategic oil reserves to ease rising concerns over global energy supply disruptions and surging oil prices amid escalating US and Israeli actions against Iran.
According to the Ministry of Industry, Japan plans to release approximately 8.5 million kiloliters (85 billion liters) of oil from 11 storage sites nationwide—equivalent to 30 days of government oil supply—to mitigate economic pressures from the energy crisis.
Last week, Japan’s private sector also injected reserves equal to 15 days of consumption into the market to reduce price volatility.